Business – Page 248 – Rise Africa

Foreign Inflows to Nigeria Hit $14bn on Investor Confidence

07.01.2026

Nigeria attracted nearly $14bn in combined foreign portfolio investment and foreign direct investment in the first nine months of 2025, driven by renewed investor confidence and wide-ranging economic and investment reforms, the Federal Government has stated. According to the Federal Ministry of Industry, Trade, and Investment on Tuesday, this $14bn in combined FPI surpasses the...

Nigeria’s Poverty Rate May Hit 62% by 2026, Says PwC

07.01.2026

Nigeria’s poverty rate is projected to rise sharply to 62 per cent by 2026, with about 141 million people expected to be living below the poverty line, according to PwC. The projection is contained in PwC’s Nigeria Economic Outlook 2026, titled “Turning macroeconomic stability into sustainable growth.” The report notes that despite recent policy actions...

Fidelity Bank raises N259bn in private placement

07.01.2026

Fidelity Bank Plc has raised N259bn through a Private Placement of ordinary shares, significantly boosting its capital base as the lender intensifies efforts to meet the new regulatory capital requirements for commercial banks with international authorisation. In a statement issued on the Nigerian Exchange Limited on Tuesday, the bank said the Private Placement was conducted...

Domestic Traffic Falls, Int’l Rise

07.01.2026

The Federal Airports Authority of Nigeria has revealed a widening imbalance in the nation’s aviation sector, as domestic air travel continues to decline while international passenger traffic records sustained growth. According to the figures, released by FAAN on Tuesday, passenger movements within Nigeria have fallen to their lowest level in three years, underscoring the mounting...

Aptech launches AI talent training programme in Nigeria

07.01.2026

Aptech Computer Education Nigeria has launched a new all-in-one artificial intelligence career programme aimed at equipping Nigerian learners with job-ready technology skills, structured internship opportunities and clear pathways to international degrees. The programme, known as ADSE AI, combines AI-powered training, hands-on projects and mentorship with opportunities for eligible students to gain industry exposure through a...

Reps Move to Block Budgets of Defaulting MDAs in Nigeria

07.01.2026

Government-owned corporations, agencies, and commissions that fail to transmit their yearly audited financial statements to the Office of the Auditor-General for the Federation may soon be denied budgetary allocations, following a fresh constitutional amendment proposal by the House of Representatives. The move is aimed at tightening fiscal oversight and enforcing long-standing accountability provisions that many...

Nigerians pay N1.13tn electricity bill amid blackouts

07.01.2026

Electricity distribution companies in Nigeria collected a total of N1.13tn in revenue from their customers over the six months spanning the second and third quarters of 2025 (April to September), according to detailed monthly performance data from the Nigerian Electricity Regulatory Commission. This is despite repeated complaints of low power supply among electricity consumers and...

Edgebase Technologies marks 20 years of innovation in Nigeri

07.01.2026

Nigerian technology firm Edgebase Technologies is celebrating 20 years of innovation, local impact and community building, marking two decades of contributions to Nigeria’s and West Africa’s rapidly evolving digital ecosystem. Founded in 2005 as a small start-up focused on hardware supply, Edgebase has grown into a trusted partner for IT enterprise infrastructure, engineering services, cybersecurity...

AA Rano Unveils Nigeria’s First Unmanned Fuel Stations

07.01.2026

AA Rano Nigeria, one of the country’s leading downstream petroleum marketing companies, has unveiled Nigeria’s first fully automated and unmanned fuel stations, marking a major step in the digital transformation of the fuel retail sector. The initiative follows a business partnership between AA Rano and Petrosoft Limited, a Nigerian technology firm specialising in downstream oil...

Why Africa Must Embed Technology in Its Governance Systems

07.01.2026

Africa has been urged to move beyond short-term digital projects and embed technology in governance systems that can endure political transitions and funding cycles. Founder and chief executive officer of Nnnew Network, Adeniyi David Adebote, said Africa was not short of ideas, talent or reform initiatives, but lacked institutions designed to work together over the...